Posts Tagged “tpp”
“In November 2015, President Obama accepted Secretary of State John Kerry’s recommendation to reject the pipeline, inciting the company that proposed the project, TransCanada, to sue the United States government for profits lost, per NAFTA’s ISDS provisions. The company is seeking $15 billion in retribution, to be paid by taxpayers.”
Since China entered the World Trade Organization in 2001, the massive growth of trade between China and the United States has had a dramatic and negative effect on U.S. workers and the domestic economy. Specifically, a growing U.S. goods trade deficit with China has the United States piling up foreign debt, losing export capacity, and losing jobs, especially in the vital but under-siege manufacturing sector. Growth in the U.S. goods trade deficit with China between 2001 and 2013 eliminated or displaced 3.2 million U.S. jobs, 2.4 million (three-fourths) of which were in manufacturing. These lost manufacturing jobs account for about two-thirds of all U.S. manufacturing jobs lost or displaced between December, 2001 and December 2013.
New Balance officials say one big reason is that they were told the Department of Defense would give them serious consideration for a contract to outfit recruits with athletic shoes.
But no order has been placed, and New Balance officials say the Pentagon is intentionally delaying any purchase.
New Balance is reviving its fight against the trade deal, which would, in part, gradually phase out tariffs on shoes made in Vietnam. A loss of those tariffs, the company says, would make imports cheaper and jeopardize its factory jobs in New England.
“In June 1979, when manufacturing jobs were at their peak of 19,553,000, there were 10,165,100 jobs in retail trade in the United States. At that point, manufacturing jobs outnumbered retail jobs in America by 9,387,900.
The 15,942,100 retail jobs in the United States this March outnumbered the 12,291,000 manufacturing jobs by 3,651,100.
According to the BLS’s seasonally adjusted numbers, employment in the retail trade industry in the United States first overtook employment in manufacturing in December 2002.”